A tariff on a product
a. enhances the economic well-being of the domestic economy.
b. increases the domestic quantity supplied.
c. increases the domestic quantity demanded.
d. results in an increase in producer surplus that is greater than the resulting decrease in consumer surplus.
b
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The fact that business cycles are recurrent but not periodic means that
A) business cycles occur at predictable intervals, but do not last a predetermined length of time. B) the business cycle's standard contraction—trough—expansion—peak pattern has been observed to occur over and over again, but not at predictable intervals. C) business cycles occur at predictable intervals, but do not all follow a standard contraction—trough—expansion—peak pattern. D) business cycles last a predetermined length of time, but do not all follow a standard contraction—trough—expansion—peak pattern.
Many college football teams require a "donation" in order to purchase season tickets. This is an example of
A) price gouging. B) tie-in sale. C) two-part pricing. D) anti-competitive behavior.